Wednesday May 19, 2010 - 11:54:45 GMT
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European Session Briefing
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May 19 2010
Commodity currencies have fallen sharply in early European
trading as risk aversion forces investors to offload more of their
higher-yielding assets in favour of safe-haven plays such as the yen,
which is higher across the board. Yesterday's ban by Germany of short
selling of selected securities has stoked fears that problems are to
emerge out of the eurozone.
Stock markets have therefore fallen sharply with Asian bourses ending
the day lower and European equities are currently down over 2 percent,
with U.S. equity futures in negative territory. Surprisingly, the euro
and sterling have managed to stay above the Asian session lows for now
after no reaction was seen to the release of the BoE minutes.
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